Dow Jones 21184 minus 22
S&P500 2436 minus 2.97
Lederhosen 12822 unchanged
FTSE 7525 minus 21.87
OIL 47.35 minus 0.31
GOLD 1279 plus 2.24
AUD 0.7487
SPI Futures minus 7
Come and get it, come and get it!
http://www.marketwatch.com/story/us...ror-attacks-as-busy-week-kicks-off-2017-06-05
U.S. stocks closed lower Monday, slightly below record levels, as investors grappled with a variety of geopolitical issues, such as terrorist attacks in London ahead of the U.K. election and the scheduled public testimony of fired Federal Bureau of Investigation Director James Comey.
The Dow Jones Industrial Average
DJIA, -0.10% fell 22.25 points, or 0.1%, to 21,184.04, led lower by shares of
Apple Inc. AAPL, -0.98% and
United Technologies Corp.UTX, -0.93% Earlier, the average had been up by as many as 18 points.
The S&P 500
SPX, -0.12% declined 2.97 points, or 0.1%, to finish at 2,436.10, with seven of its 11 sectors finishing lower, with utilities, materials and industrials leading decliners
The Nasdaq Composite Index
COMP, -0.16% closed own 10.11 points, or 0.2%, to 6,295.68, after inching up to an intraday record of 6,310.62 in early trading.
This week will deliver testimony by former FBI head Comey, as well as the U.K. general election, and a European Central Bank meeting. Separately, the recent terror attack in the U.K. could amplify concerns, while a rift among Gulf states, which led to a rise in crude-oil prices, could further dent sentiment.
Across the pond, The FTSE 100 index
UKX, -0.29% and European stocks
ended lower on Monday, after Saturday evening’s terror attack near London Bridge. Three assailants in a van mowed down pedestrians, then went on a knife rampage in Borough Market. At least seven people died and scores were injured, 21 critically.
“The market is in a wait-and-see mode. We’re trading near all-time highs, earnings season is pretty much over, and we’re waiting on clarity from central banks. Outside of the terrorism factor, which has been elevated, we’re still looking for the next bullish catalyst,” said Adam Sarhan, chief executive of 50 Park Investments. “However, the fact that we’re not down more after an attack like this is a sign of strength. So long as these kinds of attacks are fairly contained, they won’t change the economic picture.”
While the terror attack in London is tragic and the drama out of Washington is frustrating, at the end of the day, unless it’s a headline that is going to change how companies do business, the market is going to stay resilient, said Karyn Cavanaugh, senior market strategist at Voya Financial.
“Every day is not going to be a record day, so when you have these pullbacks there are also investors with the fear of missing out,” Cavanaugh said.
The terror incident comes just days ahead of the U.K. election on Thursday. Investors will watch to see whether Prime Minister Theresa May’s Conservative Party, which is looking for backing for its strategy for exiting the European Union, will manage to keep its majority in parliament. The vote could lead to more uncertainty over Brexit.
Economic docket: On the data front, the latest read on first-quarter output was raised to 1.7% from 1%, while a read on productivity was raised from a -0.6% read to an unchanged level. The Institute for Supply Management’s index on the services sector
fell 0.6 points in May, though it remains in solidly positive territory.
Factory orders fell 0.2% in April, snapping a four-month streak of positive months.
A turbulent week ahead: Beyond, the U.K. election and Senate hearing, featuring Comey, a meeting of the ECB in Talinn, Estonia, is scheduled on Thursday. Investors will be watching to see if the central bank offers any clues about when it will begin tapering its stimulus program.
In addition, stocks are entering a traditionally turbulent period, with Bespoke Investment noting that equities tend to fall around 0.79% in the two-week span between May 30 and June 13.
Apple Inc.AAPL, -0.98% shares slipped 1% after Pacific Crest
downgraded shares to sector weight from overweight, saying all the good news from the iPhone 8 has been priced in, but not enough risk. A
Other markets: Gold prices
GCQ7, +0.11% settled up 0.2% at $1,282.70 an ounce. The British pound
GBPUSD, +0.0931%ticked slightly higher following a slip after Saturday evening’s terror attack. Asian stocks
ADOW, -0.19% finished the day largely weaker.
Oil prices
CLN7, -0.67% fell 1.5% to close at $47.66,
eliminating a gain of more than 1% seen earlier in the European session and in Asian trading. That rise was driven by news that Saudi Arabia, Egypt, Bahrain and the United Arab Emirates had cut relations with Qatar after accusing the country of
interfering in internal affairs and supporting terrorism.
That news left the Qatar QE index
down more than 7% on Monday. The iShares MSCI Qatar Capped ETF
QAT, -9.09% the largest exchange-traded fund to track the country’s equity market, sank 9.1%.
what we can expect
Buggered if i know, Futures point to a slightly modest opening, currenty down 7 points but we pointed to a positive opening yesterday and we started lower and kept drifting down
have a good day
p.s Verses
celebrity Chef's edition
Jamie Oliver Verses Peter Russell Clarke
Where's the cheese?
